LOS ANGELES--(BUSINESS WIRE)--On May 16, 2016, Legion M became the first company in history to successfully launch a fundraising round under Regulation CF of the federal JOBS Act. Today—on the two-year anniversary of that historic event—Legion M is officially opening a new Regulation CF offering for the company’s third round of equity crowdfunding.
To date, Legion M has raised more than $3MM via equity crowdfunding, allowing over 6,500 fan-investors to own a stake in a slate of film, TV, and VR projects such as 2017’s critically acclaimed Colossal (starring Anne Hathaway and Jason Sudeikis), Nicolas Cage’s Mandy (one of the best reviewed films at the 2018 Sundance Film Festival), David Tennant’s Bad Samaritan, which was produced and directed by Dean Devlin (Stargate, Independence Day, “Leverage,” “The Librarians”), and the pilot episode of ICONS, a groundbreaking virtual reality series, starring iconic comic book creator Stan Lee and filmmaker-comedian Kevin Smith.
“We believe an entertainment company owned by fans is better than one owned by Wall Street,” said Paul Scanlan, Legion M’s cofounder and CEO. “Over the past two years we’ve demonstrated what a FAN-OWNED entertainment company is capable of. We’re just getting started, but like a snowball rolling downhill—the bigger we get the more influential we’ll become. Soon, we’ll be unstoppable!”
Legion M’s stated goal is to unite 1 million fan-investors as owners of the company. In fact, the company’s logo—an M with a bar over it—is the Roman numeral for one million. To achieve this goal, the company expects to have many rounds of equity crowdfunding.
“A lot of people see equity crowdfunding as a new way to raise money,” said Legion M’s cofounder and president Jeff Annison. “For us, it’s a whole new way to build a business. After all, fans are the ones who fuel the multi-trillion-dollar global entertainment industry. Individually, each of us is just a consumer, but when we band together we have the power to shape the industry.”
“Legion M 'gets' equity crowdfunding better than just about anybody else in the space,” said Sara Hanks, co-founder and CEO of CrowdCheck and CrowdCheck Law, which provide compliance and legal services to help companies like Legion M navigate the burgeoning space of equity crowdfunding. “Not only was Legion M the first company to launch a Regulation CF round, after raising more than $3MM from a combination of Reg CF and Reg A offerings, they are also one of the most successful.”
As with Legion M’s previous rounds, the new round is being hosted at wefunder.com/legionm. Interested investors can get involved for as little as $100. People that are interested but not sure about investing can also join Legion M as a free member at www.legionm.com/join-the-legion to get inside access to the company and their projects.
To learn more about Legion M, please visit www.legionm.com.
About Legion M
Revolutionizing the way entertainment is made in Hollywood, Legion M encompasses a global community of 35,000+ members and more than 6,500 fan-owners. Its slate of film, TV, digital and VR projects includes feature-film projects in various stages of development; multiple series for network, cable and digital TV; as well as interactive and VR-based projects. Legion M was an investor in the critically acclaimed Colossal, starring Anne Hathaway and Jason Sudeikis, and directed by Nacho Vigalondo, Mandy starring Nicolas Cage and directed by Panos Cosmatos, and Bad Samaritan starring David Tennant and directed and produced by Dean Devlin.